Energy Transfer's Perseverance Is About to Pay Off Big Time
Energy Transfer (NYSE: ET) has a long history of developing infrastructure projects to support growing energy demand. The company has built thousands of miles of pipelines, multiple oil and gas processing facilities, and several storage and export terminals over the years. The master limited partnership (MLP) currently expects to invest upwards of $2.1 billion this year in expanding its energy infrastructure network.
In addition to those projects it currently has under construction, Energy Transfer has several more in the pipeline. One of those is Lake Charles LNG, a proposed project to convert the existing LNG import and regasification terminal into an LNG export facility. The company has been working on bringing this project to fruition for years. That perseverance looks like it's about to finally start paying dividends for investors.
Image source: Getty Images.
Source Fool.com
